Deals This Week: PTT, Gold Fields, Fortis and More…

24 March 2011 (Last Updated March 24th, 2011 18:30)

Thailand-based PTT Mining has completed the acquisition of International Coal Holdings (ICL), which was formerly Straits Resources, for A$544.1m (US$545m). The Federal Court of Australia approved the takeover, under which PTT Mining will acquire all of the shares in ICL.

Thailand-based PTT Mining has completed the acquisition of International Coal Holdings (ICL), which was formerly Straits Resources, for A$544.1m (US$545m).

The Federal Court of Australia approved the takeover, under which PTT Mining will acquire all of the shares in ICL.

Gold Fields Corona has made a new offer to acquire the remaining shares of Peruvian subsidiary La Cima for PEN1.16bn ($420m).

Gold Fields has offered PEN4.20 ($1.5) in cash for each La Cima common or investment share.

Fortis Mining has finalised negotiations to fully secure the rights to purchase two significant potash salt deposits Chelkar and Zhiliyanskoe in west Kazakhstan for $260m.

Fortis Mining, which earlier paid $6m of the total amount, will pay $24m on 18 April and the remaining $230m on 7 July.

Hanlong Mining has received a 19% stake in Sundance Resources by acquiring Talbot Group's stake for $190m.

Hanlong has acquired the entire holding of Talbot Group's 433.7 million shares which added to existing relevant interests gives it 514.9 million shares.

Puyang Refractories Group will invest 100m yuan ($15m) to acquire 100% stake in Haicheng Linli Mining.

The assets of Haichen Linli Mining include exploration rights over a magnetite mine, which has annual output of 200,000t and available reserves of 7.27 million tons.

Transit Holdings Board has elected not to proceed with the proposed acquisition of coal exploration projects announced earlier.

After a careful period of study and analysis, Transit Holdings has concluded that the coal prospects under evaluation did not meet its criteria for investment.